Exam 1: Core Foundation Related to Fraud Examination and Financial Forensics

One of the best ways to ruin an investigation, fail to gain a conviction, or lose a civil case is to base investigative conclusions on logic and conjecture.

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(True/False)

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Question 1

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True

Differentiate between fraud and abuse.

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Question 2

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Although both fraud and abuse involve an intentional deception that causes its victim to suffer an economic loss and/or the perpetrator to realize a gain, abuse does not rise to the level of fraud. Abuse is often a way to describe a variety of petty crimes and other counterproductive behavior, such as surfing the web while at work, coming to work late or leaving early, using sick leave when not sick, that have become common and even silently condoned in the workplace.

Financial statement fraud is often attributed to pressures, such as all of the following except:

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Question 3

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Fraud pressures can arise from financial problems, such as living within one's means, greed, high debt, medical bills, investment losses, or educational expenses.

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Question 4

Small businesses, such as those with less than one hundred employees, account for approximately what percentage of the cases in the 2006 and 2008 ACFE surveys?

(Multiple Choice)

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Question 5

While a fraud examiner's objective is to determine whether fraud has occurred and who is likely responsible, the financial forensics investigator's objective is to:

(Multiple Choice)

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Question 6

The acronym "M.I.C.E." as typical motivations of fraud perpetrators stands for:

(Multiple Choice)

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Question 7

Which of the follow is not a reason why small businesses have high losses to fraud?

(Multiple Choice)

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Question 8

The two primary functions of financial forensics are:

(Multiple Choice)

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Question 9

Evidence can best be defined as:

(Multiple Choice)

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Question 10

From the statements below select the most correct.

(Multiple Choice)

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Question 11

Some of the typical forensic and litigation advisory services are:

(Multiple Choice)

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Question 12

Describe the services that a forensic accountant might provide related to a marital dispute.

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Question 13

An immaterial false statement is a legal element of fraud.

(True/False)

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Question 14

The fraud theory approach involves the following steps, in the order of their occurrence is:

(Multiple Choice)

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Question 15

All instances of misconduct in the workplace amount to fraud.

(True/False)

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Question 16

According to the ACFE, owners and executives are involved in only about:

(Multiple Choice)

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Question 17

Explain the "fraud triangle" and "M.I.C.E." and compare the two in your explanation.

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Question 18

The three legs of the fraud triangle are opportunity, perceived benefit, and rationalization.

(True/False)

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Question 19

Explain the differences between an audit, fraud examination, and forensic accounting engagement.

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Question 20

Showing 1 - 20 of 71

One of the best ways to ruin an investigation, fail to gain a conviction, or lose a civil case is to base investigative conclusions on logic and conjecture.

Differentiate between fraud and abuse.

Financial statement fraud is often attributed to pressures, such as all of the following except:

Fraud pressures can arise from financial problems, such as living within one's means, greed, high debt, medical bills, investment losses, or educational expenses.

Small businesses, such as those with less than one hundred employees, account for approximately what percentage of the cases in the 2006 and 2008 ACFE surveys?

While a fraud examiner's objective is to determine whether fraud has occurred and who is likely responsible, the financial forensics investigator's objective is to:

The acronym "M.I.C.E." as typical motivations of fraud perpetrators stands for:

Which of the follow is not a reason why small businesses have high losses to fraud?

The two primary functions of financial forensics are:

Evidence can best be defined as:

From the statements below select the most correct.

Some of the typical forensic and litigation advisory services are:

Describe the services that a forensic accountant might provide related to a marital dispute.

An immaterial false statement is a legal element of fraud.

The fraud theory approach involves the following steps, in the order of their occurrence is:

All instances of misconduct in the workplace amount to fraud.

According to the ACFE, owners and executives are involved in only about:

Explain the "fraud triangle" and "M.I.C.E." and compare the two in your explanation.

The three legs of the fraud triangle are opportunity, perceived benefit, and rationalization.

Explain the differences between an audit, fraud examination, and forensic accounting engagement.

Careers in Fraud Examination and Financial Forensics

Who Commits Fraud and Why: Criminology and Ethics

Complex Frauds and Financial Crimes

Cybercrime: Computer and Internet Fraud

Legal, Regulatory, and Professional Environment

Fraud Detection: Red Flags and Targeted Risk Assessment

Detection and Investigations

Effective Interviewing and Interrogation

Using Information Technology for Fraud Examination and Financial Forensics

Cash Receipt Schemes and Other Asset Misappropriations

Cash Disbursement Schemes

Corruption and the Human Factor

Financial Statement Fraud

Consulting, Litigation Support, and Expert Witnesses: Damages, Valuations, and Other Engagements

Remediation and Litigation Advisory Services

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